(pressebox) Nice, 26.03.2009, In this new position paper entitled "Taking Care of Executive Legitimacy: A Neglected Issue of Corporate Governance," Isabelle Mari, professor of strategy at EDHEC, and Valérie Petit, Director of the EDHEC Leadership and Corporate Governance Research Centre, examine the reasons for the growing precariousness of executive positions and suggest putting the legitimacy of management back at the core of corporate governance.
The regular increase in turnover in top management teams underscores the growing fragility of the executive position and is symptomatic of a crisis of legitimacy in executive management. Without this legitimacy, the stability and success of the firm are threatened. Particularly in an economic downturn, companies cannot afford to be without solid and competent strategic leadership in order to give themselves the most effective conditions for manoeuvring. This is why it is necessary to take care of managerial legitimacy.
With its study of legitimacy, EDHEC invites academics as well as the corporate governance stakeholders to put this fundamental yet currently neglected issue on their agenda. This position paper is the first of a series whose aim is to offer managerial solutions to the problem of rebuilding top management teams legitimacy.
This position paper proposes a new leadership framework on managerial legitimacy. This model allows us first of all to envisage a measure for managerial legitimacy that would challenge stakeholders and companies about the conditions required to engender top executive legitimacy. Secondly, it is an invitation to identify positive legitimacy practices and for top management teams to reflect on their willingness and capacity to put these practices into operation.Über EDHEC Business School
EDHEC Business School, founded in 1906 and among the select few institutions to have garnered international recognition through the triple crown of EQUIS, AACSB and AMBA accreditations, offers management education designed to meet the needs of companies. Its large range of international graduate programmes draws students from the world over. With its three campuses in Lille, Nice, and Paris, its 4,700 students, more than 25% of whom are from abroad, and its 100 full-time faculty, EDHEC has been ranked among the top European business schools for several years.
Faithful to its strategy of international excellence, EDHEC has developed an extremely active research policy over the last few years, which has led to the development of specialised research centres drawing on the expertise of the school’s faculty.
The mission of the EDHEC Leadership & Corporate Governance Research Centre is to shed light on strategic leadership and corporate governance in an era of governance and executive power reform.
The work of the researchers at the EDHEC Leadership & Corporate Governance Research Centre is built around five research themes in the fields of organisational behaviour, strategic leadership, and corporate governance.
1) Definition, measurement et development of managerial legitimacy
2) Executive leadership styles
3) Executive management and family governance
4) Ethics and regulation of management
5) Images, representations, and reputations of executive managers
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